17:20:16 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Glance Technologies Inc
Symbol GET
Shares Issued 136,579,783
Close 2018-12-06 C$ 0.22
Market Cap C$ 30,047,552
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Glance partners with Merchant Advance for SMB financing

2018-12-06 10:07 ET - News Release

Mr. Desmond Griffin reports

GLANCE TECHNOLOGIES PROVIDES SMALL BUSINESSES WITH ACCESS TO FUNDING THROUGH NEW PARTNERSHIP WITH MERCHANT ADVANCE CAPITAL

Glance Technologies Inc. has entered into a strategic alliance and referral agreement with Merchant Advance Capital LP. Merchant Advance Capital provides financing to small- and medium-sized businesses by purchasing a specified percentage of future receivables.

David Gens, chief executive officer of Merchant Advance Capital, commented: "We are proud to be partnering with Glance Technologies, a company that shares our values of innovation and use of technology in providing financial services. Together, we can provide Canada's most convenient financing solutions."

Under the terms of the strategic alliance agreement, Glance Technologies and Merchant Advance Capital will collaboratively market and promote each other's businesses through their respective marketing and sales channels. Under the terms of the referral agreement, Glance Technologies will be paid a fee for each transaction that Merchant Advance Capital closes from a Glance Technologies-generated lead.

A significant emerging sector of the economy is made up of freelancers and small businesses. Glance Technologies recently launched its Glance PayMe mobile POS (point-of-sale) solution, providing freelancers and small businesses with a secure, low-fee processing solution without long delays in getting paid. Small businesses often have difficulty obtaining financing from traditional banks. Through this new partnership, small businesses operating on the Glance Technologies platforms may now be eligible to receive financing in as little as one to three business days.

Desmond Griffin, chief executive officer of Glance Technologies, commented: "We see Merchant Advance Capital as the perfect partner for our new Glance PayMe application. We are impressed by their innovative approach to financing small business, the application of technology to their approval, and risk management processes and ability to quickly approve an application. We think their product is an excellent solution that can help our Glance merchants overcome seasonality challenges and expand and grow their businesses."

About Glance Technologies Inc.

Glance Technologies is the owner of Glance Pay and Glance PayMe, a pair of complementary smart phone payment applications that enable merchants to provide their customers with quick secure payments, digital rewards and a better customer experience.

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